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A consumer with U=X^2/3Y^1/3 faces Px=4, Py=2, m=24. Now m=36. Show bundles A and C. What proportion of her money does she spend on good X? Are there cross-price effects?
Also, could you explain me about the cross-price effects?
The demand function for DVD players has been estimated to be QPlayer = 134 - 1.07PDVD + 46Pm - 2.1PDVD - 5M, where QPlayer is the quantity of DVD players, PDVD is the price of a videocassette, Pm is the price of a movie, PPlayer is the price of a DVD..
Suppose you are examining a small open economy with a large negative trade balance. Describe briefly the key pros and cons for this country if it decides to introduce a set of restrictions on international trade in order to achieve a situation when e..
A bicycle race, the Tour de Florida, which will have riders from various countries. Each rider will also be on a team. The teams will have a name
If the actual budget deficit is $200 billion, the economy is operating $450 billion above its potential, and the marginal tax rate is 14 percent, what are the structural deficit or surplus and the cyclical deficit or surplus?
A prominent senator has calculated the total social benefit of the current amount of space exploration at $3 billion per year. The total social cost of space exploration is currently only $2 billion. The senator argues that a net gain to society w..
Develop a compensation package for both managers and sales people. Explain the differences as well as the rationale for the design.
q1. when the federal government decreases the individual and corporate income tax rates?q2. between sweezy oligopoly
What are the observed intended vs unintended consequences of rent control and minimum wage legislation as it relates to employment, demand and productivity and ultimate impacts.
If the demand for movie tickets is elastic, then A. Ed > 1. B. Ed
Malthusians and Neo-Malthusians believe that, eventually, the population of the earth will be exceeding the number of people able to be sustained by the earth's food production. As such, they advocated different forms of population control. However, ..
Define strategic competitiveness and above-average returns. What is the relationship between strategic competitiveness and returns on investment? Explain why it is important for organizations to analyze and understand the external environment. Descri..
How an economist answers the question, does economic power exist, is one main difference between the heterodox and conventional approaches. Explain both positions by explaining their supposed general theories. (Note, this is asking you to explain, ac..
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